British inflation jumps to 2.7 percent in April

17th-May-2017

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British inflation hit a 3.5-year high of 2.7 percent in April, official data showed Tuesday, owing mainly to higher airfares, but also as a weak pound raises import costs.The Consumer Price Index rallied from a rate of 2.3 percent in March, which had been also the highest level since September 2013."Air fares were the main contributors to the increase in the rate in April 2017, although this balanced out a downward effect of similar magnitude in March 2017 and is due to Easter falling later than last year," the Office for National Statistics (ONS) said in a statement."Rising prices for clothing, vehicle excise duty and electricity also contributed to the increase in the rate."These upward contributions were partially offset by a fall in motor fuel prices between March 2017 and April 2017, compared with a rise between the same two months a year ago," the ONS added.

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